Sky Investment Group LLC Sells 243 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Sky Investment Group LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,542 shares of the financial services provider’s stock after selling 243 shares during the quarter. Sky Investment Group LLC’s holdings in The PNC Financial Services Group were worth $6,385,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank & Trust Co bought a new position in The PNC Financial Services Group during the second quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the 1st quarter worth $29,000. Finally, Y.D. More Investments Ltd bought a new stake in The PNC Financial Services Group in the second quarter worth $33,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $173.82, for a total value of $215,884.44. Following the sale, the chief executive officer now directly owns 559,669 shares of the company’s stock, valued at $97,281,665.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock valued at $4,459,819 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. UBS Group lifted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Barclays boosted their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Trading Down 0.5 %

Shares of NYSE:PNC traded down $0.88 on Tuesday, hitting $184.76. The company had a trading volume of 120,263 shares, compared to its average volume of 1,859,864. The firm’s 50-day simple moving average is $181.20 and its two-hundred day simple moving average is $167.47. The firm has a market capitalization of $73.52 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 2.06 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.